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Industry: Email Alert RSS FeedHow to find the right support and resistance. (day-trading)
Futures (Cedar Falls, Iowa), April, 1997 by Duffy, Joe
Buying dips and selling rallies are two of the preferred strategies in day-trading. Market trend determination and the identification of potential resistance or support will boost the strategies chances to succeed. The Moving Average Convergence Divergence and stochastic indicators should be combined to determine market direction. Utilizing the methods will give day-traders which direction they could take the following day.
Finding support and resistance for a day-trader can keep him alive in a volatile market. Here's one idea, implemented with others, to find those target areas.
My personal preference for day-trading and short-term trading is to buy dips and sell rallies.
Two components are needed to make this strategy work. First, you have to be...
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